Tag financial services

What is a Money Services Business?

A money services business, or MSB, is a term used by the Financial Crimes Enforcement Network (FinCEN) to describe a business that provides certain financial services. These services may include activities such as money transmission, currency exchange, and the issuance…

Payment Institution License EU

Faisal Khan LLC - Payment Institution License EU.

What is a Payment Institution (PI)? A Payment Institution (PI) in the EU is a firm that has obtained an Authorised Payment Institution (API) License or a Small Payment Institution (SPI) License. With these licenses, the firm can provide various…

API UK Licensing Process

Faisal Khan LLC - API UK Licensing Process

What is the UK API License?  The UK API License enables you to offer financial services to the UK. These include, but are not limited to, payment process, payment accounts, transfer of money, and acquisition of merchants. The API highlights…

Operator-led Model

Faisal Khan LLC - Operator-led Model

In an operator-led model in the financial services industry, there are two primary entities involved: the Operator and the Solution Provider. The Operator is a licensed holder that holds the necessary regulatory licenses and is authorized to conduct financial services…

Passport (or Passporting)

Faisal Khan LLC - Passport (Or Passporting)

Passporting is a regulatory mechanism that allows financial services firms that are authorized to operate in one European Union (EU) member state to conduct business in other EU member states without having to obtain additional authorization. Passporting allows firms to…

Renting (or Leasing) a License

Faisal Khan LLC - Renting (or Leasing) a License.

Using the term “renting” to describe the process of becoming an agent or representative of a principal license holder (PLH) is generally discouraged by financial regulators worldwide, but especially in the United States. This is because “renting” implies a temporary…